What is EY’s retirement plan? Does it have a pension like wealth builder at pwc in addition to 401k match. How is the vesting look like?

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It pays something like 2.5%-4% of salary based on age and years of service. Vests over 4 years I think.

Unlike wealth builder, you can’t choose what to invest in. Instead it grows at a guaranteed 4% a year. When you quit/retire you can choose the lump sum and roll it into a retirement account or convert it to an annuity depending on how much you’ve accumulated.

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The little Klynveld is also a minimum 5%

funny

We have a pension but don't the first thing about how it works

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That’s the 401k bud…

401k is 50% match up to 6% contribution (your first few years are 25% match).

There is also the defined benefit cash balance plan. Firm contributes $ that is guaranteed a 4% rate of return. This plan replaced the traditional defined benefit plan that ended a few years ago (that was a payout based an average salary subject to caps). The new plan formula is a bit of a black box but “supposed to yield similar benefit” at retirement age. In practice it means lower payouts to people that do not stay at the firm for the entire career. Still better than nothing

If your young just find a high income spouse and retire in 10 years. Very easy to do. Look at Mr Money Mustache

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